Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Airfoils Advanced Solutions is jointly owned by Safran Aircraft Engines (51%) and Air France Industries KLM E&M (49%), it is dedicated to the repairing of high-pressure compressor blades of airline engines. This company has announced that the activity currently based in Asia will be relocated to nothern France (Nord) near the main hubs of the two airlines companies Air France (Roissy-Charles-De-Gaulle) and KLM (Amsterdam). According to the Executive Vice President of Air France KLM Engineering & Maintenance, this joint venture reflects the company's development strategy, which is rooted in innovation and the development of new repairing solutions to continuously improve the competitiveness of the engine support services. The new company's plant will be completed in early 2018 and it will deliver its first parts by end of January 2019. By 2022, the site will have a workforce between 200 and 250 employees. The implementation of the new plant is supported by local authorities that participated in up to 10% of the total investment (Haut-de-France region provided a subsidy of € 673,000). This relocation is expected to create 135 permanent jobs within four years.
Eurofound (2017), Airfoils Advanced Solutions, Reshoring in France, factsheet number 94, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/94.
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